The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1887-02-25
The New Revenue Bill.

A new revenue bill has been favor.
ably reported by the ways and means
committee of the House at Harrisburg
and is now before that body Tor con-
sideration. 1t is entitled an act TO re-
wise, amend and consolidate the sever
al revenue laws of this Commonwealth
which imposes taxes upon personal
property and upon banks, corporations,
limited partnerships, bankers and brok-
ers, and is the joint production Of a
commission composed of Auditor Cen
eral Niles, Auditor General-elect Nor
ris, State Treasurer Quay and Rufus
E Shapley, of this city.
The bill is just what it processes TO
be-a consolidation of laws now on
the statute books, with such changes
as recent decisions of the Supreme
Court have rendered absolutely necess.
ary and few others intended to make
the law explicit, effective and easily
understood. The principal changes
are four in number, as follows;
FIRST. The tax on watches, house
hold furniture, including gold and sill.
yer plate and pleasure carriages, is re-
pealed absolutely.
SECOND. One-half the personal prop
erty tax or tax on money at interest is
returned to the counties collecting it.
THIRD. Any mortgage or other Sc
curity containing a provision making
the borrower liable TO pay the tax up
on it, is rendered void in any court of
law or equity.
Fourth. The stock of companies
which pay to the State the tax imposed
on their capital stock is exempted from
taxation in the hands of the holders.
In other words, the tax cannot be col
lected on the same stock twice.
The wisdom of these changes will
hardly be disputed by any intelligent
man. The tax upon watches, house
hold furniture and pleasure carriages
is tax upon property that ordinarily
produces no revenue to its owners, and
is for that reason, if no other, unjust.
1t is intended that the man who gets a
revenue from his money at interest
shall pay the tax upon it, hence the
provision preventing its exactlon from
the borrower. No one would desire to
collect two taxes from the same prop
erty, and the provision exemptiug stock
already taxed is intended to prevent
this in ustlce. The diversion of one
half the tax on money at interest into
the county treasures gives the County
Commissioners a direct incentive to a
faithful collection of the tax, as the
local burdens on real estate can be re-
duced Just to the extent of the amount
realized in this way. Another good
feature of the new bill is that it is
written in good, plain English, and can
be easily understood and enforced by
the officials charged with the collection
of the taxes levied by its provisions.
The provision which has made the law
effective since 1885 is retained, that
requiring all taxables to make a sworn
return Of all their taxable property.
No estimate has yet been given the
public by the commission preparing
the new bill as to its probable effect
upon the revenues of the State. A
casual glance at its provisions leads to
the conclusion, however, that it will
increase rather than diminish them, as
it is so framed as to insure the collec.
tion of taxes upon large amount of
property that heretofore has success
fully evaded taxation. The bill is the
work of men who have had more prac-
tical experience with the subject of
collecting taxes than any similar mum.
ber of men that could have been found
in the State Unless 1t can be shown
that it will in some way disastrously
affect the State revenues, which is not
probable, the Legislature should pass
it as promptly as possible. 1t codifies
and makes consistent and ineligible
system of tax laws which heretofore
has been obscure and to a certain ex-
tent antagonistic.-ISnaes.